Reporting by **The Nation** indicates that the Federal Government’s new Tax Acts are designed to build trust rather than just increase revenue. Finance Minister Taiwo Oyedele explained that minimum wage earners are now officially exempt from personal income tax. Furthermore, the government is proposing a reduction in Company Income Tax (CIT) to make Nigeria more attractive for Foreign Direct Investment (FDI).
Further reporting by **Daily Post** and **Tribune** confirms that 15 states have already harmonized their tax laws with the federal framework to end multiple taxation. **Daily Post** quoted Oyedele saying, “The situation had become unsustainable because government revenues remained insufficient.” **Tribune** added that “Wealthy Nigerians earning above N20m monthly and owners of private jets should face higher tax obligations.”
**Daily Post** highlighted that “Technology will play a central role… prioritizing data integration and digital filing.” **Tribune** noted that “The premium between the official and parallel rates is now under 2.0 per cent,” assisting tax predictability.
**Echotitbits take:** This is a classic “tax the rich” pivot. By exempting the poor, the government is trying to buy social peace while they go after high-net-worth individuals and corporate entities. The success of this policy depends entirely on whether the “technology-driven compliance” can actually catch tax evaders in the informal sector.
Source: PWC – https://www.pwc.com/ng/en/publications/the-nigerian-tax-reform-acts.html, May 13, 2026
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